Greeks Could Tear Up Austerity Deal Sterling Euro Highs

By Tom Higham

9th May, 2012

Following months of work, speculation and market volatility Greece finally received their much needed bailout package earlier this year however now with their elections in full swing one of the leading parties is threatening to “tear up the EU austerity deal” should they come into power. As discussed in yesterdays blog France now has the Socialist leader Hollande who’s focus is on growth and now austerity and so wants to re-negotiate the EU finance packages with some saying France will now try to opt out of the bailout deals altogether possibly leaving Europe in a precarious position. Should the far left party in Greece come into power and then reject the currenct austerity measures we could see uproar in Europe and possibly Greece leaving the Eurozone which could spark a mass exodus with other smaller European countries following suit. All of this speculation is only likely to damage the Eurozone and therefore Euro exchange rates as investor confidence drops.

With Spain in recesssion, France with a new leader and Greece potentially about to take on a far left – anti austerity party, we could see a very turbulant time for Sterling Euro exchange rates. So, if you need to send money abroad and are looking for the best exchange rates on your currency exchange make sure you speak to one of our experienced currency brokers today. Our currency brokerss can discuss your currency requirements and all the options available to you. So, call us free on 0800 328 5884 or email us on info@currencies.co.uk

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